CBDCs remain DeFi’s foremost adversary. Across traditional finance and among regulators, DeFi is increasingly seen as a positive innovation. Meanwhile, the BIS and ECB’s “Chief of Control” Christine Lagarde continue to push for CBDCs, weapons designed to tighten state grip on personal assets, while at the same time distorting what DeFi truly represents with their written literature. We still have a lot of work to do to defend open, permissionless finance.